O financiamento a empreendimentos de base tecnológica: o caso FABNS

This article presents the trajectory of public funding of an academic spin-off of a capital good from research activities until reaching technological maturity for product insertion in the market. The financial resources raised, as well as the human resources involved in the development of the technology are presented in the time perspective of the TRL - Technological Readiness Level scale in order to highlight the complexity of the financial process necessary to deal with the different levels of uncertainty in the development of a technology. Public funding, although mostly for scientific activities, covered differentiated instruments that were important for advancing technological development. In addition to funding, intellectual capital and research infrastructure were fundamental for the creation of the science-based academic enterprise. In its initial two years of operation, the spin-off received predominantly public financing in the form of development projects, mostly used to hire and retain human resources.